City of Somerville header
File #: 25-1559    Version: 1
Type: Mayor's Request Status: Approved
File created: 10/6/2025 In control: City Council
On agenda: 10/9/2025 Final action: 10/29/2025
Enactment date: 10/23/2025 Enactment #: 219648
Title: Requesting approval to create the Boynton Yards Infrastructure Stabilization fund and accept a payment to the fund of $384,025, from off-site infrastructure and other contributions outlined in the Boynton Yards district project development covenants, for the purpose of funding public infrastructure projects that mitigate the impact of large-scale development in the Boynton Yards district.
Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury, SPCD Administration
Code sections: Stabilization Fund -

Agenda Summary

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Requesting approval to create the Boynton Yards Infrastructure Stabilization fund and accept a payment to the fund of $384,025, from off-site infrastructure and other contributions outlined in the Boynton Yards district project development covenants, for the purpose of funding public infrastructure projects that mitigate the impact of large-scale development in the Boynton Yards district. 

 

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Official Text

To the Honorable City Council:

 

Requesting approval to create the Boynton Yards Infrastructure Stabilization fund and accept a payment to the fund of $384,025 generated from off-site infrastructure and other contributions outlined in the Boynton Yards district project development covenants.  The purpose of the stabilization fund is to fund public infrastructure projects that mitigate the impact of large-scale development in the Boynton Yards district. 

 

Appropriate staff will be available to answer any questions you may have. Thank you for your consideration of this matter.

 

Respectfully Submitted,

Katjana Ballantyne, Mayor